<p>ASX-listed developer Cedar Woods is progressing its plans for its Southbank arts precinct site.&nbsp;</p>

<p>The developer has filed plans, which are now with the&nbsp;Department of Transport and Planning, for a new 20-level tower at&nbsp;<a href="https://www.apartments.com.au/new-apartments/141-151-sturt-street-southbank-vic-3006">141–151 Sturt Street</a>, a 2,718 sqm block opposite the Habitat Filter sculpture.</p>

<p>The proposal seeks to demolish the two-level&nbsp;commercial building, including a small supermarket and medical tenancies, and create a new building with 180 apartments and a focus on an&nbsp;active public realm and arts integration.</p>

<p>&nbsp;</p>

<p><img alt="Southbank site" data-entity-type="file" data-entity-uuid="76a72db6-91ef-43ae-827d-a9cfa72893d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Site.png?VersionId=DZgtB4K6BswVh0QtCs3iLjXaLp0CbcEb" /></p>

<p>&nbsp;</p>

<p>There will be a full mix of apartment configurations, including 28 studio apartments, 16 one-bedroom, 104 two-bedroom, and 32 three-bedroom units.</p>

<p>Retail, creative arts, and residential amenity functions are integrated across the lower levels. A food and drink tenancy is planned to front Dodds Street, while a retail tenancy fronting Sturt Street will be accessed via an elevated walkway. The first floor includes a substantial 734 sqm creative arts space, envisioned to support Melbourne’s growing cultural and digital industries.</p>

<p>Architecture firm <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has put together the plans. In their&nbsp;Urban Design Report they highlighted the project’s ambition to embed itself within Southbank’s evolving cultural fabric.</p>

<p>A central feature of the design is a through-block link connecting Sturt and Dodds Streets, landscaped with native plantings and embedded with universal access ramps.</p>

<p>“The ramp has been thoughtfully integrated as the primary access point, ensuring universal accessibility for all users,” the report noted, with the link offering “a direct response to the urban planning scheme of creating more green spaces within our communities”.</p>

<p><img alt="Southbank podium" data-entity-type="file" data-entity-uuid="4d24b1b2-d69c-4a11-a11d-ec6df432221c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium.png?VersionId=geWoJyZDmPSLODZ_.PNJ0LvpOmyyCdpo" /></p>

<p>The building’s podium form responds to the mandatory height limits along Dodds Street and maintains a fine-grain interface to adjoining developments. Above the podium, the tower is articulated with recessed balconies and a focus on views toward the CBD and surrounding arts institutions. A communal rooftop recreation deck and indoor lounge are positioned on level four, adjoining seven apartments and providing over 900 sqm of resident amenity space.</p>

<p>Vehicle access and loading will be provided via Dodds Street, with 155 resident car spaces located across two basement levels and the first three above-ground floors. Bicycle storage is more generous, with 226 spaces distributed across resident, staff and visitor needs.</p>

<p>Rothelowman describes the architecture as “humanist,” with ground-level interfaces designed to encourage social interaction and provide a dignified entry for both residents and passers-by. “All street interfaces are crafted to invite and nurture human connections,” the design report states. “The façade transitions to a human scale, providing an approachable and engaging streetscape”.</p>

<p>Cedar Woods, while well-known for its large communities it develops outside of Australia's capital cities, they have recently developed in Melbourne's inner-ring before. They are approaching completion at <a href="https://www.apartments.com.au/new-townhouses/88-leveson-north-melbourne-88-leveson-street-north-melbourne-vic-3051">88 Leveson</a>, just 15 townhouses in the heart of North Melbourne.</p>


Joel Robinson

Cedar Woods progresses with new apartment plans in Southbank arts precinct

<p>Brisbane developers Core Property Partners and Vector Property Australia has teamed up for Brisbane's newest apartment development.</p>

<p>The duo identified <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as their preferred suburb, on the fringe of the Gabba Precinct, where they've just revealed BANKSII, 72 apartments opposite Raymond Park.</p>

<p>[smartcode_project:default project_id=136432 project_image_fid=5481]</p>

<p>The one-, two-, and three-bedroom apartments will sit in a glass-wrapped building that will also feature a rooftop with an&nbsp;infinity-edge pool, a BBQ area and alfresco dining spaces, sun lounges, and a sauna, as well as a resident-only gym and a ground-floor cafe.</p>

<p>Rhett Williams, Director of Vector Property Australia, said the project will lift the quality of the East Brisbane community and set a new benchmark.</p>

<p>"In Brisbane’s current property landscape, <a href="https://www.apartments.com.au/new-apartments/banksii-east-brisbane-169-wellington-road-east-brisbane-qld-4169">BANKSII</a> stands out through its emphasis on lifestyle-oriented living, connectivity and sophisticated design," Williams says.</p>

<p>[smartcode_project:default project_id=136432 project_image_fid=5479]</p>

<p>The 10-level building has been designed by MAS Architecture. Their designs were inspired by the native Banksia flower, with the architecture and interiors reflecting the organic symmetry of its namesake flora. MAS has interpreted this throughout the building’s curved form, façade detailing and interior palette.&nbsp;</p>

<p>The building’s flowing geometry and natural tones are complemented by large balconies and floor-to-ceiling glazing, maximising cross-breezes, daylight and views over the city, parklands and river.</p>

<p>“Having a strong narrative for a building helps us architecturally,” MAS noted. "We can choose colours that come off that species of flowers. The trunk and the trees and the flower elements all are now visible in our joinery on the inside and in our architectural finishes on the outside."</p>

<p>[smartcode_project:default project_id=136432 project_image_fid=5485]</p>

<p>Apartments will feature timber floors, soft porcelain tiles, brushed bronze fittings, and stone benchtops with warm veining.&nbsp;</p>

<p>Kitchens feature premium SMEG appliances and generous storage, while bathrooms have been designed as calming retreats with curved cabinetry and twin sinks in the master ensuites.</p>

<p>The building will feature a suite of rooftop and wellness amenities. Residents will have access to an infinity-edge pool, BBQ and alfresco dining areas, sun lounges and a rooftop sauna.&nbsp;</p>

<p>A residents-only gym will be located on the podium level, while a ground-floor café and landscaped laneway will further activate the site and improve neighbourhood connectivity.</p>

<p>[smartcode_project:default project_id=136432 project_image_fid=5488]</p>

<p>BANKSII will rise from a prime Wellington Road site, with the building oriented to overlook the adjacent Raymond Park and take in extensive city views. It is also on the doorstep of key&nbsp;lifestyle infrastructure, including the future Kangaroo Point Green Bridge, The Gabba stadium, and the planned Brisbane Live arena.&nbsp;</p>

<p>Public transport options, including ferry, bus and rail - including the future Cross River Rail Woolloongabba station - are all nearby, supporting a car-optional lifestyle just minutes from the CBD.</p>

<p>Williams said the team spent over a year searching for the ideal site before securing this location.</p>

<p>"We were attracted to <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as it is a vibrant and growing community that offers a perfect balance of urban convenience and natural beauty with the parklands and river on our doorstep.”</p>

<p>The project is part of the broader Woolloongabba Games precinct, which is undergoing significant investment in the lead-up to the 2032 Brisbane Olympics. This urban renewal, coupled with infrastructure upgrades, is expected to enhance long-term liveability and capital growth in the area.</p>

<p>Given the wide max of configurations, BANKSII is expected to suit everyone from first home buyers and investors to families and downsizers.</p>

<p>[smartcode_project_cta:default project_id=136432]</p>


BANKSII sales launch in booming East Brisbane apartment market

<p>The Minns Labor Government will deliver Sydney’s first new heavy rail station in more than a decade – enabling up to 10,000 new homes by rezoning land around Woollahra and Edgecliff stations, right next to the CBD, to tackle the housing crisis and rebalance growth across the city.</p>

<p>Recent reports by the NSW Productivity Commission have warned that Sydney is losing twice as many young people as it is gaining, while also finding that Woollahra is the most feasible Local Government Area (LGA) in New South Wales to build new housing.</p>

<p>Despite this, housing approvals in Woollahra consistently lag well behind other LGAs, and the population has declined by 11 per cent over the past 50 years while Greater Sydney as a whole has grown by 74 per cent.</p>

<p>The new station that will be an eight-minute trip from Sydney CBD, will be located on the Eastern Suburbs train line in Woollahra, where a station build was started in the 1970s but never completed.</p>

<p>To enable the delivery of new homes the NSW Government will lead a rezoning of Woollahra and Edgecliff stations similar to other state led rezonings to allow additional homes to be built around the stations.</p>

<p>Affordable housing will also make up a proportion of development on the site with the final amount of affordable housing required, to be determined as part of the rezoning process.</p>

<p>The area surrounding the new station is within walking distance of major green and recreational space including Cooper, Trumper, Rushcutters Bay and Centennial Parks.</p>

<p>The Eastern Suburbs train line between Bondi Junction and Sydney CBD also has the lowest passenger usage rates during the AM peak of any line on the Sydney network, with only 43 per cent of operating capacity during the AM peak currently being utilised by passengers.</p>

<p>Sydney Water and Infrastructure NSW have confirmed there is capacity in the water and wastewater systems to accommodate the proposed 10,000 dwellings without major upgrades.</p>

<p>The rezoning is expected to take around two years and will further support the Government’s housing targets that rebalance the delivery of new homes around existing infrastructure.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>


Next stop Woollahra train station - delivering up to 10,000 new homes in the heart of Sydney

<section data-element_type="section" data-id="b086848">
<p>Fresh off completing its mixed-use Malvern project Malvern Collective, Kokoda Property Group has acquired a prime site on Richmond's Bridge Road.</p>

<p>They are planning a mid-rise residential development with&nbsp;integrated wellness amenities and a vibrant ground-floor retail and dining offering.</p>

<p>The site, at&nbsp;487–495 Bridge Road, spans&nbsp;1,650 sqm with 50 metres of dual frontage across Bridge Road and Palmer Street. It is currently leased to Adairs, and has a large retail building and 20 onsite car parks.</p>
</section>

<section data-element_type="section" data-id="534a164">
<p>Kokoda Property Group’s acquisition forms part of a broader phase of growth in Melbourne, building on momentum from the completion of Malvern Collective and the recent purchase of a Burnley Street site for the developer’s first commercial project.&nbsp;</p>

<p>Mark Stevens, Kokoda Property Group’s Founder and Managing Director, said that the company’s Bridge Road site acquisition signals confidence in a city that is re-accelerating.</p>

<p>“Melbourne is regaining momentum,"&nbsp;Stevens said.</p>

<p>"After a cautious period post-COVID, we’re seeing buyer sentiment stabilise and capital leaning back into well-located, quality projects. Victoria now benefits from deep builder capacity and competitive delivery pricing, creating a rare opportunity to bring design-led inner-city developments to market without compromising on craftsmanship.</p>

<p>“Richmond ticks all the boxes for us – connectivity, culture and everyday amenity – making Bridge Road the perfect address for an amenity-rich, multi-use development."</p>

<p><img alt="Kokoda" data-entity-type="file" data-entity-uuid="9a8de51d-8092-480a-8b7e-e081816692c2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-08-29%20at%208.54.27%E2%80%AFAM.png?VersionId=VRHpV5.6beOu2cieKHWrw3ErMPuVOAuj" /></p>

<p>Envisioned as an “urban lantern” the building will bring a distinctive new presence to Bridge Road with a sculptural retail frontage, designed to honour the street’s heritage character while contributing to its renewal.</p>

<p>Stevens said the acquisition reflects the developer’s commitment to design-led addresses in Melbourne’s inner city.</p>

<p>“Drawing on Richmond’s rich heritage and dynamic character, we’ve envisioned a contemporary building that respects the past while elevating the way people live today. With dual frontages, curated ground-floor spaces, and a focus on wellness, this project will contribute to the neighbourhood’s evolution, appealing to both downsizers and a new generation of professionals.”</p>

<p>Kokoda Property will now progress concept design ahead of a future planning process.</p>
</section>


Mark Stevens, Kokoda Property Group’s Founder and Managing Director, said that the company’s Bridge Road site acquisition signals confidence in a city that is re-accelerating

First look: Kokoda secures Richmond site for new apartment development

<p data-end="445" data-start="321">Gold Coast developer Drew Group is fast approaching sell-out at its Main Beach apartment development, Lagoon Main Beach.</p>

<p data-end="675" data-start="447">In the last nine months, Drew Group and sales partner Pezet Matheson have secured 31 sales totalling over $75 million, as the two-tower development advances towards completion under the expert eye of Hutchinson Builders.</p>

<p data-end="772" data-start="677">“Today's buyers are more discerning than ever," Drew Group Managing Director Jon Drew says.</p>

<p data-end="901" data-start="774">"It's essential to provide something truly unique that sets a development apart, and we believe Lagoon has achieved just that."</p>

<p data-end="973" data-start="903">[smartcode_project:default project_id=108747 project_image_fid=193023]</p>

<p data-end="1158" data-start="975">Just over 50 per cent of recent&nbsp;sales have been to local buyers, reflecting the deep trust and connection within the Gold Coast community that Drew Group has developed over the years.</p>

<p data-end="1397" data-start="1160">Demand has been particularly robust at the top end, with two of the three exclusive penthouses already sold, alongside five sub-penthouses. Only seven apartments remain in Lagoon's Signature Series — one&nbsp;penthouse and six sub-penthouses.</p>

<p data-end="1469" data-start="1399">[smartcode_project:default project_id=108747 project_image_fid=284864]</p>

<p data-end="1786" data-start="1471">Drew Group has also removed the much-maligned sunset clause from all contracts at Lagoon. The sunset clause — although rarely invoked, yet on occasion known to have been — allows developers to take back contracts on apartments should the building not be completed within the timeframe specified in the contract.</p>

<p data-end="1952" data-start="1788">Pezet Matheson Co-Director Jayde Pezet says the fact Lagoon is&nbsp;within a year of completion, and has no sunset clause in contracts, provides certainty to buyers.</p>

<p data-end="2008" data-start="1954">"This is paramount in the current market," Pezet says.</p>

<p data-end="2279" data-start="2010">Drew Group has committed to providing the highest level of security inclusions — none more impressive than the Ubiquity Access Control System, a cutting-edge facial recognition technology that is one of the most state-of-the-art keyless entry systems on the market.</p>

<p data-end="2351" data-start="2281">[smartcode_project:default project_id=108747 project_image_fid=190743]</p>

<p data-end="2428" data-start="2353">One of the biggest drawcards to Lagoon has been the size of the apartments.</p>

<p data-end="2567" data-start="2430">"It is unlikely that any future new development in Main Beach will be able to offer such spacious living at this price point," Drew says.</p>

<p data-end="2850" data-start="2569">"Today's buyers are more discerning than ever, carefully evaluating amenities like gyms, spas, workspaces, and beach lockers, along with quality finishes. It's essential to provide something truly unique that sets a development apart, and we believe Lagoon has achieved just that."</p>

<p data-end="2907" data-start="2852">Lagoon is set to complete construction in mid-2026.</p>

<p data-end="2958" data-start="2909">[smartcode_project_cta:default project_id=108747]</p>


Lagoon Main Beach approaches sell-out as local buyers drive $75m in sales

Lend Lease

<html><body>
<div>Lend Lease actually reported its FY2017 results, which confirmed a solid+9 percent lift in post-tax profit to $758.6 million. </div>
<div> </div>
<div>The market wasn't greatly moved, of course, since the group inadvertently dumped a stack of market sensitive information out to to the public at the beginning of the month, including the unaudited EBITDA (oops).</div>
<div> </div>
<div>As accounting stuff-ups go, it was a rather impressive one (disclosure: I made similar goofs in my listed company career) though in the end relatively little harm was done, save a little embarrassment.</div>
<div> </div>
<div><strong><span style="text-decoration: underline;">Defaults under 1pc</span></strong></div>
<div> </div>
<div>Reading through the investor presentation it was interesting to note a +20 per cent uplift in residential unit completions in the 2017 financial year.</div>
<div> </div>
<div>Approximately 90 per cent of apartment completions have already settled, with a default rate of under 1 per cent.</div>
<div> </div>
<div>This follows on from similarly low default rates reported by other developers during earnings season.</div>
<div> </div>
<div>This is very important, for there had been fears of a wave of Chinese investor defaults following on from local lenders pulling up the ladder.</div>
<div> </div>
<div>To date, this does not appear to have transpired.  </div>
<div> </div>
<div>In other news, S&amp;P reported a drop in loan delinquencies from 1.21 per cent in May to just 1.15 per cent in June. </div>
<div> </div>
<div>Declines were recorded "across the board" for 30,60 and 90 day mortgage arrears, with a corresponding fall in outstanding loan balances, with Queensland showing the biggest drop in arrears. </div>
<div> </div>
<div>This broadly mirrors what you'd expect to see given extremely low mortgage rates for homeowners, and a national unemployment rate that has been trending down for several years now.</div>
<div> </div>
<div><strong><span style="text-decoration: underline;">No stress?</span></strong></div>
<div> </div>
<div>Countless media articles have claimed that mortgage stress is rising - often referred to as a "perfect storm" no less! - perhaps based upon household cash flow surveys.</div>
<div> </div>
<div>But in reality so many households have been repaying ahead of schedule into offset accounts that it wouldn't be a surprise if some net monthly cashflows showed an outflow. </div>
<div> </div>
<div>With the aggregate value of the housing stock exploding to $7.1 trillion against mortgage debt of around $1.6 trillion, it also wouldn't be a surprise to me if some of the benefiting households have taken a breather on their earnings either. </div>
<div> </div>
<div>In any event, with the possible exception of Western Australia mortgage arrears remain low to date, which is about the only indicator that matters, when all's said and done. </div>
<div> </div>
<div>
<p class="p1"><span class="s1">PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank"><span class="s2">AllenWargent</span></a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank"><span class="s2">blogger</span></a>.</span></p>
<p class="p2"><span class="s3"><em>His latest book is </em><a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank"><span class="s2"><em>Four Green Houses and a Red Hotel</em></span></a><em>.</em></span></p>
</div>
</body></html>

pwargent-M4siyDbqQY

Lend Lease report low apartment default rate

<html><body>
<p><span>The residential recovery will unfold over years, rather than the 2019 spring quarter, according to Lendlease's chief executive for property in Australia, Kylie Rampa.</span></p>
<p><span> "We feel we are in the trough of the residential market. It is bottoming out," Rampa said.</span></p>
<p>She cited "a dislocation in the credit markets" following the Hayne Royal Commission as a significant factor that had dragged on the market.</p>
<p>She also told Nine Entertainment that the market was hurting from Chinese capital controls, along with increased stamp duty and taxes for foreign purchasers.</p>
<p>Low interest rates and improving affordability were helping the recovery, she said.</p>
<p>"We think it will flow through over a period of time. We're not expecting a full recovery in a quarter.</p>
<p>"You start to get some price growth then you get some more activity, it all starts building. It will take time. Over the next two to three years we think the market will continue to strengthen.</p>
<p>"We always say 'you go up by the stairs and down by the elevator'," she said.</p>
<p>"It takes time for the credit market to come back. It is coming back but it is not back to where it was at the peak of the cycle."</p>
</body></html>

j.ballantyne1990-6AQqhLzZaK

Property price recovery to take years not months: Lend Lease's Kylie Rampa

<html><body>
<p>​Lendlease has officially reported a slowdown in its Australian residential sales.</p>
<p>Slowing sales in projects were highlighted by its Collins Wharf 1 project which sits at 89% sold.</p>
<p><a href="https://www.realestate.com.au/project/no-1-collins-wharf-docklands-600012046" target="_blank">The Melbourne project</a> was at 87% sold a year earlier.</p>
<p>It is marketed as one of the city’s most esteemed addresses, designed by architects Bates Smart.</p>
<p>Located within the Victoria Harbour Precinct on Melbourne’s Bourke and Collins Streets, No.1 Collins Wharf is being marketed as poised to set a new benchmark in waterfront living.</p>
<p>It offers apartments on just a 5% deposits. </p>
<p>Group chief executive Steve McCann conceded "most markets are past their peak" when he presented the latest annual report which triggered a 2% drop in its share price yesterday.  </p>
<p>Mr McCann said there was a tightening of credit due to higher debt costs, and regulatory impacts, partly from the banking royal commission, which had seen inquiries drop off recently.</p>
<p>“We are not calling a massive correction, but we do see a bit of a slowdown,” he told The Australian.</p>
<p>Luxury unit markets offshore had also been soft a for a while, he added.</p>
<p>Lendlease's local apartment completions nearly halved. Completions in the year to June fell to 1314 from 2533 a year earlier.</p>
<p>Apartment projects were completed in Sydney, Melbourne, Brisbane and London.</p>
<p>Presold lots in its big residential communities slowed to 3,231 lots in financial 2018 from 3,896 in the previous period.</p>
<p>Land lot completions across the Australian master planned communities portfolio sat at 3,912.</p>
<p>Key projects included Springfield Lakes in Queensland and Jordan Springs in New South Wales.</p>
<p>And its settlement failures increased. Earlier this year it advised Brisbane was the most challenging inner-city apartment market in the country.</p>
<p>"Inevitably there will be a rise in defaults in this market over the short term," the developer pointed out. </p>
<p>"We are working through our relatively small exposure at our RNA projects in Brisbane, including identifying potential alternate buyers, or holding the residual units for a period and renting them out."</p>
<p>It has just 15 active projects, with its focus overseas. </p>
<p>Major property developer Lend Lease is hedging against an Australian slowdown by expanding developments offshore.</p>
<p>In announcing a 4.5% rise in full-year profit to $793 million, Lendlease pointed to its full pipeline of projects in Europe, the US and Asia as driving medium term growth.</p>
<p>About 60% of Lendlease's $72 billion development pipeline is offshore.</p>
<p>The communities pipeline consists of an estimated 52,333 lots across four continents.</p>
<p>The backlog of apartments for sale has grown from 22,000 last year to 26,000.</p>
<p>The listed developer advised it was bracing for rising defaults in Brisbane's oversupplied apartment market.</p>
<p>Its chairman of the board, David Crawford departs following the 2018 Annual General Meeting, having served as chairman since 2003.</p>
<p>Michael Ullmer is his successor.</p>
</body></html>

jchancellor-FAypfDUnLy

Lendlease confirms most Australian residential markets are past their peak

<html><body>
<p>On Friday April 6th, Minister for Planning Richard Wynne approved an amendment to the Melbourne Planning Scheme, allowing construction to commence on Carlton Connect - a major University of Melbourne project being developed in partnership with Lendlease at the site of the old Royal Women’s Hospital in Carlton. </p>

<p>The recent approval follows on from the University of Melbourne announcing a partnership with a consortium led by Lendlease in November 2017, to develop a new innovation precinct on the former site of the Royal Women’s Hospital, located at the corner of Swanston and Grattan streets in Carlton.</p>

<p>The precinct will be located adjacent to the University of Melbourne’s Parkville campus, which hosts some of the world’s top researchers and forms part of the Parkville National Employment and Innovation Cluster that will be serviced by the future Parkville Station as part of the Metro Tunnel Project.   </p>

<p>National Employment and Innovation Clusters are a key feature of Plan Melbourne with the clusters located across Melbourne, in an effort to drive down congestion and ensure people spend less time commuting.</p>

<p>Carlton Connect will create more than 3,000 direct jobs and more than 5,000 indirect jobs within close proximity to the Melbourne CBD, providing the tools, platforms and services to create an ecosystem where start-ups emerge and cutting-edge products and services are developed.</p>

<p>The 74,000 sqm precinct will feature a series of connecting buildings arranged around a central and publicly-accessible open space. In addition to co-working and commercial office space, the precinct will feature a Fab Lab, student accommodation and a ‘Superfloor’ dedicated to collaboration and fostering the exchange of ideas.</p>

<p>It will also provide shops, cafes, public spaces, accommodation for more than 500 students and visiting academics, a childcare centre and Science Gallery Melbourne, which will deliver cutting-edge exhibitions, events and experiences.</p>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/artist-impression_science-gallery-melbourne_grattan-swanston-street-corner-1024x884.jpg" rel="gallery-all" title="The new Science Gallery Melbourne will be located on the corner of Grattan and Swanston Street. Image : University of Melbourne"><img alt="" class="image-article-full-width-580px" height="501" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/artist-impression_science-gallery-melbourne_grattan-swanston-street-corner-1024x884.jpg?itok=8oGHcn_T" title="The new Science Gallery Melbourne will be located on the corner of Grattan and Swanston Street. Image : University of Melbourne" width="580"></a>

<figcaption>The new Science Gallery Melbourne will be located on the corner of Grattan and Swanston Street. Image : University of Melbourne</figcaption></figure><p>Project partner Lendlease's ambitions for the development are to regenerate the former Royal Women’s Hospital site into an open, light and modern precinct, delivering a bold new architectural statement.</p>

<p>The consortium delivering the innovation precinct in partnership with the University of Melbourne comprises Lendlease as developer, builder, co-investor and investment manager of the commercial space; GIC as major co-investor of the commercial space; Spotless as the facilities manager; and Urbanest as investor and manager of the student accommodation.</p>

<p>Early works on site commenced on November 21, 2017 with hoardings installed around the perimeter of the building site. With planning approval in hand, construction is expected to commence in mid-2018 with a 2020 completion anticipated.</p>

<h2><strong>WHAT THEY SAY</strong></h2>

<blockquote>
<p> This project ticks all the boxes. It’s making good use of a flagship site, it’s driving our reputation as a world leader for education and innovation, it’s creating thousands of jobs and will contribute billions to our economy.</p>

<p><em>- Richard Wynne, Minister for Planning</em></p>
</blockquote>

<blockquote>
<p>This development will set a new benchmark in education and industry collaboration in a purpose-built facility that meets the highest standards of design and sustainability, while also honouring the site’s heritage and history.”</p>

<p><em>- Mark Menhinnitt, Managing Director for Lendlease Urban Regeneration</em></p>
</blockquote>

<blockquote>
<p>Innovation emerges from vibrant and collaborative environments where people are encouraged to share skills and ideas as they work and socialise together, and we hope the mix of people and ideas will spark new knowledge and new ways of doing things.</p>

<p><em>- Dr Julie Wells, University of Melbourne Vice Principal of Policy and Projects </em></p>
</blockquote>

<blockquote>
<p>Innovation emerges from vibrant and collaborative environments where people are encouraged to share skills and ideas as they work and socialise together.</p>

<p><em>-  (Research) Professor Jim McCluskey, University of Melbourne Deputy Vice-Chancellor</em></p>
</blockquote>

<p> </p>

<p><iframe allow="autoplay; encrypted-media" allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/C_B0TuoYkwc" width="560"></iframe></p>
</body></html>

Laurence Dragomir

Carlton Connect Initiative Approved - construction to begin mid-year

<html><body><div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>Lendlease have received planning approval to build its third and final commercial tower at Melbourne Quarter. </span></p>
<p>Two Melbourne Quarter, a 25-storey office tower at 697 Collins Street, will feature 49,000sqm of total office space,<span> sufficient to accommodate around 4,500 new workers and 800sqm of retail space on the ground floor. </span></p>
<p><span>Mark Menhinnitt, <span>Lendlease managing director of urban regeneration and infrastructure development, </span>said planning approval for the Woods Bagot-designed tower coincided with a period of strong demand for high-qua</span><span>lity office space in Melbourne’s </span><span>CBD. </span></p>
<p><span>“Lendlease has seen strong leasing activity push the national CBD vacancy rate to its </span><span>lowest level in four years, and with a predicted shortage of prime grade contiguous office space in the near future, this has helped spur on pre-</span><span>commitment activity,” he said. </span></p>
<p><span>“</span><span>This project will cater for the continued growth and strong tenant demand for new office space in Melbourne as both national and global businesses target the new supply of buildings coming to market in the </span><span>city’s CBD</span><span>.</span> </p>
<p><span>"Two Melbourne Quarter will open out on to a new public plaza on Collins Street, a centerpiece of the Melbourne Quarter precinct, and will also feature a four-storey public staircase connecting to Aurora Lane. </span></p>
<p><span>“Next year </span><span>will see the completion of the precinct</span><span>’s </span><span>first office tower, One Melbourne Quarter, which will be home to our new Lendlease Victorian headquarters in September</span><span>.” </span></p>
<p><span>In addition to 130,000sqm of agile office space for more than 12,000 employees, more than 50 percent of the Melbourne Quarter precinct will be open space. </span></p>
<p><span>Two Melbourne Quarter will target leading sustainability outcomes in water consumption, waste management and indoor environment quality, including a 6 Star Green Star rating and a 5 star NABERS energy rating. </span></p>
<p><span>Two Melbourne Quarter is one of seven commercial and residential buildings planned for the development. Activity continues to forge ahead on site, with </span><span>the precinct’s first </span><span>residential tower East Tower under construction. </span></p>
</div>
</div>
</div>
</div></body></html>

jrobinson-rf4aSBido9

Melbourne Quarter’s final commercial tower approved: planning for growing demand

<html><body>
<div id="story-description">
<p class="selectionShareable">Lendlease has appointed high-profile former public servant and finance executive Elizabeth Proust to its board.</p>
<p class="selectionShareable">The announcement of her becoming an independent non-executive director from next February came ahead of its annual general meeting on Friday.</p>
</div>
<p class="selectionShareable">Ms Proust, one of the country’s top business figures and networkers, will join the David Crawford-led board which includes Nicola Wakefield Evans and Jane Hemstritch.</p>
<p class="selectionShareable">She was recently listed on the list of <span>15 of Australia’s super networkers by the Institute of Managers and Leaders.</span></p>
<p class="selectionShareable">The new Lendlease director spent eight years at ANZ Group, including four years as managing director of Esanda.</p>
<p class="selectionShareable">Before joining ANZ, Ms Proust ran Victoria’s Department of Premier and Cabinet and had been chief executive of the City of Melbourne.</p>
<p class="selectionShareable">Ms Proust is also chairman of the Australian Institute of Company Directors and of Nestle’s Australian arm, as well as heading the Bank of Melbourne’s advisory board.</p>
<p class="selectionShareable">Ms Proust is also deputy chairman of the Catholic Church’s Truth, Justice and Healing Council.</p>
<p class="selectionShareable">Mr Crawford said that Ms Proust was highly regarded in both the public and private sectors and her appointment would enhance the board’s mix of skills, diversity and experience.</p>
<p class="selectionShareable">A<span>n Australian Council of Superannuation Investors report in 2015 showed that women accounted for almost 40 per cent of the directors who were appointed by S&amp;P/ASX 100 companies in the previous 12 months, adding about 50 per cent them already held directorships at other companies. </span></p>
<p class="selectionShareable"><span>After the report's release Australian Institute of Company Directors chair Elizabeth Proust rejected suggestions of a "girls club" at ASX 100 companies.</span></p>
<p class="selectionShareable"><span>She also advised women against stepping down from executive roles in order to become non-executive directors.</span></p>
</body></html>

Elizabeth Proust joins Lend Lease board 

<html><body>
<p>Lend Lease will begin its largest commercial tower in its $6 billion Sydney's Barangaroo South project with a pre-commitment from two cornerstone tenants -  PricewaterhouseCoopers Australia and HSBC Bank Australia. </p>
<p>In a statement to the ASX, Lend Lease said it should be as an anchor tenant of Tower 1, PwC has entered into an agreement to take 26,500 square metres or  12 floors in the 49-storey building. HSBC has signed heads of term for the bank to take 8,000 square metres of space or 3.5 floors in the building.</p>
<p>Lend Lease will commence the development and funding of 100% of the building, known as Tower 1 of International Towers Sydney, via existing capital sources. It intends to introduce co-investors into Tower 1 at an appropriate time in the future.</p>
<p>Lend Lease Group chief executive, Steve McCann, said "prior to today’s announcement, we were already ahead of where we expected to be at this stage of the evolution of the Barangaroo South precinct, with two towers 77% leased and under construction, and the first two apartment buildings sold".</p>
<p>As part of its announcement, the listed property group said it had entered into an agreement to reduce its co- investment in Lend Lease International Towers Sydney Trust (LLITST) from 25% to 15% via a sale to international pension fund APG. </p>
<p>Following completion of the sale of the 10 per cent interest, Lend Lease’s equity commitment to LLITST will reduce from $500 million to $300 million.</p>
</body></html>

Lend Lease

Editor's Picks

Have something to contribute?

The latest real estate & off the plan properties & news, delivered to your inbox.

Developments

New apartments

New townhouses

News

The latest real estate & off the plan properties & news, delivered to your inbox.

Lend Lease

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

The latest real estate & off the plan properties & news, delivered to your inbox.

Developments

New apartments

New townhouses

News

The latest real estate & off the plan properties & news, delivered to your inbox.